18,900 Shares in Paylocity Holding Corporation $PCTY Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Paylocity Holding Corporation (NASDAQ:PCTY) in the second quarter, Holdings Channel reports. The fund purchased 18,900 shares of the software maker’s stock, valued at approximately $1,976,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Los Angeles Capital Management LLC purchased a new stake in shares of Paylocity in the 4th quarter valued at $30,000. Advisory Services Network LLC acquired a new stake in shares of Paylocity in the third quarter worth $38,000. Optiver Holding B.V. raised its holdings in shares of Paylocity by 5,925.0% during the first quarter. Optiver Holding B.V. now owns 241 shares of the software maker’s stock worth $26,000 after purchasing an additional 237 shares during the last quarter. Global Retirement Partners LLC purchased a new position in shares of Paylocity during the second quarter worth $27,000. Finally, Basecamp Wealth Advisors LLC lifted its position in Paylocity by 4,250.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 261 shares of the software maker’s stock valued at $28,000 after purchasing an additional 255 shares during the period. 94.76% of the stock is currently owned by institutional investors and hedge funds.

Paylocity Stock Down 0.8%

PCTY stock opened at $141.66 on Friday. Paylocity Holding Corporation has a one year low of $92.99 and a one year high of $172.21. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09. The firm’s fifty day moving average is $140.06 and its 200 day moving average is $119.13. The firm has a market cap of $7.52 billion, a PE ratio of 28.62 and a beta of 0.45.

Paylocity (NASDAQ:PCTY) last issued its quarterly earnings data on Tuesday, August 4th. The software maker reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.22. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The business had revenue of $444.73 million during the quarter, compared to the consensus estimate of $431.46 million. During the same quarter in the prior year, the firm posted $1.56 earnings per share. The company’s revenue was up 11.0% compared to the same quarter last year. On average, research analysts forecast that Paylocity Holding Corporation will post 6.92 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. TD Cowen upped their price target on shares of Paylocity from $168.00 to $177.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Robert W. Baird set a $201.00 price objective on Paylocity in a report on Wednesday, August 5th. UBS Group raised their target price on Paylocity from $122.00 to $128.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Wall Street Zen lowered Paylocity from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Finally, BMO Capital Markets lifted their price target on Paylocity from $143.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Paylocity presently has an average rating of “Moderate Buy” and a consensus target price of $160.53.

Insider Buying and Selling

In other news, Director Steven I. Sarowitz sold 19,459 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $157.78, for a total transaction of $3,070,241.02. Following the transaction, the director owned 4,453,495 shares in the company, valued at $702,672,441.10. This trade represents a 0.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth B. Robinson sold 800 shares of Paylocity stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $158.41, for a total transaction of $126,728.00. Following the completion of the sale, the director directly owned 6,745 shares in the company, valued at $1,068,475.45. This represents a 10.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 54,214 shares of company stock valued at $8,322,580 in the last 90 days. Corporate insiders own 19.40% of the company’s stock.

About Paylocity

Paylocity Holding Corporation is a provider of cloud-based human capital management (HCM) and workforce management software. Its platform is designed to help organizations manage payroll, human resources, employee benefits, talent, compliance and workforce operations through a unified system.

The company’s products and services include payroll processing, time and labor management, benefits administration, recruiting, onboarding, performance management, employee surveys and workplace communication tools.